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An Evergreen Cyber Security Market

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Sujith Vasudevan, Managing Editor

The 2023 G20 New Delhi summit has concluded, with India making a great name for itself. Prime Minister Narendra Modi handed over the G20 Presidency gavel to Lula da Silva, the President of Brazil. However, on the eve of the Summit in the national capital, the Delhi Police's website crashed amidst live cybersecurity threats. As per Threat intelligence platform Falcon Feed, Pakistan-based

“Team Insane PK hackers group" have claimed to have targeted the website. Falcon also posted a screenshot of the Telegram chat confirming the news. Fortunately, the Delhi Police website was restored after a brief 10-minute disruption.

Recently, Minister of State for Electronics and Information and Technology Rajeev Chandrasekhar informed the Parliament that India witnessed 13.91 Lakh cyber security incidents in 2022. According to a report by cybersecurity firm CloudSek, India, the US, Indonesia, and China accounted for 45 percent of total cyberattacks on government agencies worldwide in the second half of 2022, to say nothing of the attacks in the corporate realm. The increasing cyber threat landscape takes it a bit far, making it almost inevitable to amass all the help you can get. This challenging scenario often calls for help from third-party technology experts with advanced threat intelligence and automated response tools at their disposal.

According to a new report by marketsandmarkets.com, the global Cyber Security Market size is expected to grow from $173.5 billion in 2022 to $266.2 billion by 2027, at a CAGR of 8.9 percent. The trends driving the cyber security market include the growing adoption of IoT security solutions, the adoption of cloud-based cyber security solutions, and increased BYOD trends.

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